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Kapil Malhar Deal or no deal

Last updated: August 30 2010
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  • Kapil Malhar Deal or no deal

    Hey Forum, Finally I think I'm going to buy one property in kapil malhar phase 1. So I need you guys to help me out in any cons associated with it(rather actively ); and also if this seems to be good deal.

    I'm getting this property in 55 lakhs + 3 lakhs stampduty reg. Will do some internal chages and guess that would be around 1-1.5 lks. Which will make the deal bit costly arnd 59 Lks.
    Also included in it is some furniture whose resale value is arnd 1 lakh and I don't have to setup everything except for wardrobes and replacing with good bed.

    It is a 2BHK, 1287 area+ 1 parking + the view is good (I can have a cup of tee SUKUN se)

    But one thing that is a concern to me is builder is asking arnd 3% of the transaction since society is not formed, he has the final right. :-(What do you guys think about it?
    though me and the seller have agreed to share that amount.

    I did asked watchman he said there is PMC water and doesn't ever depend on tanker.

    I liked the location near by CCD, Food Bazaar, ATM, Pizza, great punjab etc etc.

    I did heard about water logging few years back and asked about it, but people around there had no qualms.

    Regarding my finances I guess I'm pretty okay with it and hope making right moves here.

    Offer valid till friday so will be glad if you can put your opinion.
    Hope I can find peace there.
    Last edited by saggii; August 9 2010, 05:38 PM.
  • #2

    #2

    Re : Kapil Malhar Deal or no deal

    My take....

    Hey Saggi,

    Here is my take on this project:- Kapil Malhar.

    Pros:-
    • Good location,
    • PMC water is present + tankers for some times but not completely dependent on tankers,
    • Ready possession,
    • Sufficient car park,
    • Quite spacious flats,
    • Nice views, especially the hills, river...the back side has bungalows, so that view is also intact
    • 2 separate water tanks, one for kitchen & another one is common for bath etc. This ensures that PMC water is in kitchen but mix water can be pumped into the other tank (I had gone on the terrace to see the water tanks).

    Cons:-
    • No amenities, not even garden. The amenities are only for the bungalow soc. So, you pay 55L yet no garden There is just a community hall.
    • If the flat faces inside, then all the other flats can see you drink tea. So location is important.
    • The entrance is common, for building + the bungalow soc. hence the internal road is always busy.
    • It is much lower than the main Baner road, hence during rains the situation is horrible,
    • Few years ago, the bungalow residents had to leave their homes in monsoons as water had entered their houses. The entrance road is in pathetic condition in monsoons.
    • The approach road, though less in distance from Baner road is really bad, small 'gali' & one needs to search from where to enter this project
    • The internal floor lobbies are so tiny that if 2 couples come out simultaneously, they may get swapped
    • Occupancy rate is quite low despite being an old project, don't know why.
    • Here comes the biggest flaw, atleast for me:- Not a single flat is Vastushastra compliant.
    Btw, I had seen the 11 & 12 floor flats available from builder. There was a resale for 52L which was on 2nd floor & given out on rent to some students.

    * Friends, now rate this project & add to the thread the ratings. Please put additionals inputs if you have any.
    Last edited by realacres; August 9 2010, 05:57 PM. Reason: typo
    If you are happy, you are successful.

    Comment

    • #3

      #3

      Re : Kapil Malhar Deal or no deal

      Well, I had visited the place last year and builder/agent was selling it at exactly the same price - 4500 all inclusive.Now, what I missed in such a big society - was the liveliness and also the directions were not square and surely not Vastu Compliant as Real pointed out....directions in angles for kitchen/bedrooms,etc doesnt work to well for me...

      ALso, i think kitchen was part of the drawing room and really small, and the builder had charged 30% on carpet -- even though he says its 25...

      So, in effect, its a rate of about 6000 per sq feet, and I dont get what I like --- is a really bad deal--

      Another thing, in the night, if you see, almost more than half the building is un-occupied & dark bcos of unsold flats...

      Well, for me staying on for 10-12K a month in a 2 BHK is surely better than paying 60 lacs for it...
      Its annual rent to sale ratio of 1:40 which is DOUBLE than whats fair...

      I WOULD SURELY RENT THAN BUY !

      I think some resale property in Aundh at 4500 would definately be a better buy.
      Last edited by pcpune; August 9 2010, 07:03 PM.

      Comment

      • #4

        #4

        Re : Kapil Malhar Deal or no deal

        Originally posted by realacres View Post



        Cons:-
        • The entrance is common, for building + the bungalow soc. hence the internal road is always busy.
        • It is much lower than the main Baner road, hence during rains the situation is horrible,
        • Few years ago, the bungalow residents had to leave their homes in monsoons as water had entered their houses. The entrance road is in pathetic condition in monsoons.
        • The approach road, though less in distance from Baner road is really bad, small 'gali' & one needs to search from where to enter this project
        • The internal floor lobbies are so tiny that if 2 couples come out simultaneously, they may get swapped
        • Occupancy rate is quite low despite being an old project, don't know why.
        • Here comes the biggest flaw, atleast for me:- Not a single flat is Vastushastra compliant.
        Btw, I had seen the 11 & 12 floor flats available from builder. There was a resale for 52L which was on 2nd floor & given out on rent to some students.
        Thanks RA and pcpune, one of the comments about couple swapping was hilarious, I don't know where does the idea popped into. Any personal exp. ?
        Jus kidding.
        Anyways I will enquire about the vastu part of it (and will also ask about any spirit roaming around ), and also will enquire more about water logging. Though I asked one of the person in the society he said there were some problems for bunglow society but not for flat residents.
        I analysed that every other project will have some sort of + and - and realized that nothing is perfect so be it, else everyother aspect I was looking for i.e. location (infra and near city), flat itself, neighbours, view and budget.

        I calculated from builder's calculator, rate is coming around 3900 psf. which seems to be in sync with other properties around.

        I can't find anything lower than this, infact I was not able to find anything. Builder has only top floor flats for sale rate is 4500psf so rate would be 62/63 lks for 1300 sf flat.
        Last edited by saggii; August 9 2010, 07:23 PM.

        Comment

        • #5

          #5

          Re : Kapil Malhar Deal or no deal

          And yes 2 more things:
          a. current rent is 18000 PM
          b. good thing is plan don't have passages, I'm pretty sure it makes the flat more usable and spacious

          Comment

          • #6

            #6

            Re : Kapil Malhar Deal or no deal

            Originally posted by saggii View Post
            And yes 2 more things:
            a. current rent is 18000 PM
            b. good thing is plan don't have passages, I'm pretty sure it makes the flat more usable and spacious
            This is typical of most people making real estate decisions.
            You opened this discussion by asking for active feedback, especially cons.

            When people actually gave you some negative points, you immediately dismissed the points and became sarcastic and personal.

            Basically, you didn't really want any feedback. Just one question: Why did you even start this thread? Real estate decisions are highly personal anyway. If you feel that you are getting peace of mind and value for money, just be happy, and stop looking for active feedback.

            Before you start flaming me now, please re-read my previous paragraph coolly. I am not making a personal attack, just letting you know that you basically started a pointless thread. Just to repeat, a certain house may be perfect for me and perfectly useless for you. If you have already analyzed the basic stuff like water, roads, drainage, etc. then really, it is pointless for you to seek further feedback as you have already made up your mind and the feedback you will receive will be mostly personal viewpoints of others.

            I was also quite surprised to hear that rental rates are 18k. 18k rent is the current going rate for a 2BHK (1200sqft not 800sqft) apartment in Kalyani Nagar (new apartments, not old). Then again, the way RE is inflating in Pune, you never know.

            Comment

            • #7

              #7

              Re : Kapil Malhar Deal or no deal

              Originally posted by saggii View Post
              And yes 2 more things:
              a. current rent is 18000 PM
              Are you sure!
              check out

              http://www.****************/bricks/pr...t/7125418.html

              Comment

              • #8

                #8

                Re : Kapil Malhar Deal or no deal

                18k for a 2 bhk flat in Baner whose approach road is from Baner gaothan? Please check and double check. This much rent is tough to get in Aundh too.

                If you assume inflated rent, your rent : price ratio goes for a toss.

                Example: At 10k rent, ratio is 1:550, which is absurd. ha ha
                At 18k rent, ratio is 1:305, which is too good to be true.

                The ad posted by rajesh is gross rent. What is monthly maintenance? What is water charges? What is property tax? If all this adds up to 3k per month, which I strongly suspect to be true, then net rent in hand is 10k only.

                What I am saying is do buy this property, but bargain hard, especially since it is resale. The seller does not have holding power, because he is not the builder.
                Try giving a low ball offer of 40L and see how he responds.
                Last edited by abeerbagul; August 9 2010, 09:27 PM.

                Comment

                • #9

                  #9

                  Re : Kapil Malhar Deal or no deal

                  I remember Kapil Malhar was quoting 2200 right in 2005 end or early 2006 itself, when neighbourhood in Baner was quoting 1400. Isnt this the complex which has club house outside the complex!

                  Considering this and also seller is willing to share the 3% builder transaction cost, I think seller is just trying to get rid of the property. There is should be room for negotiation I believe.

                  Builders quoting high rates for areas like Kharadi/Ambegaon/Bhugaon, people start accepting that current rates in Baner are justified. This trick works very well for builders.

                  Comment

                  • #10

                    #10

                    Re : Kapil Malhar Deal or no deal

                    Originally posted by asliarun View Post
                    This is typical of most people making real estate decisions.
                    You opened this discussion by asking for active feedback, especially cons.

                    When people actually gave you some negative points, you immediately dismissed the points and became sarcastic and personal.

                    Basically, you didn't really want any feedback. Just one question: Why did you even start this thread? Real estate decisions are highly personal anyway. If you feel that you are getting peace of mind and value for money, just be happy, and stop looking for active feedback.

                    Before you start flaming me now, please re-read my previous paragraph coolly. I am not making a personal attack, just letting you know that you basically started a pointless thread. Just to repeat, a certain house may be perfect for me and perfectly useless for you. If you have already analyzed the basic stuff like water, roads, drainage, etc. then really, it is pointless for you to seek further feedback as you have already made up your mind and the feedback you will receive will be mostly personal viewpoints of others.

                    I was also quite surprised to hear that rental rates are 18k. 18k rent is the current going rate for a 2BHK (1200sqft not 800sqft) apartment in Kalyani Nagar (new apartments, not old). Then again, the way RE is inflating in Pune, you never know.
                    hey hey hey, who said I'm sarcastic? Real commented something and so did I. I don't think real and I have any sort of troubles by anymeans to be sarcastic.

                    Sir, Read my post I said it has furniture. So I guess 18000 is no big deal for a furnished flat. I did met with occupants, owner has a corporate contract. So can be 100% sure about it.

                    I was asking opinion, jus like real said earlier it is not vastu compliant which I have to think about it. I can well sideline anypoint which I want and which I don't.
                    So everybody in this forum should ask you before starting a thread? Ignore the thread if you are not intrested in giving opinion or don't have one.

                    Comment

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